Surfing the Net for College Financing Help

Physician's Money Digest, October 2006, Volume 13, Issue 10

AAII Journal

Many physicians wrack their brains tryingto figure out how they will financetheir child's college education, and it is notalways clear how or where to start.Sometimes the more choices you have, themore difficult it is to know where to beginand what's right for you. The recommends the following savings plansand financial aid Web sites as the mostuseful available online:

•College Savings Plans Network(www.collegesavings.org): The Networkprovides a brief description of all state collegesavings plans—listed by state—andincludes links to state plan Web sites.

•Federal Student Aid (www.fafsa.ed.gov): Complete information on federal studentaid as well as student aid from otherfederal government agencies can be foundon this site.

•FinAid (www.finaid.org): All aspectsof college financing, such as aid programs,student loans, military aid, scholarships,and more, are listed on this site.

•Internal Revenue Service Publication970 (www.irs.gov): To find the official IRSword on current tax rules regarding taxbreaks for education expenses, read theTax Benefits for Education publicationfound on this site.

•Morningstar (www.morningstar.com):Under "Personal Finance," you will find feesand expenses, purchase information, andstate tax information regarding 529 plans.

•Savingforcollege.com (www.savingforcollege.com): This site provides detailson each state's plans, allowing you tosearch for plans by state, investment manager,and plan type.